Monopolistic Competition
0.0(0)
Studied by 0 people
Call Kai
Learn
Practice Test
Spaced Repetition
Match
Flashcards
Knowt PlayCard Sorting
1/5
There's no tags or description
Looks like no tags are added yet.
Last updated 2:08 PM on 5/2/25
Name | Mastery | Learn | Test | Matching | Spaced | Call with Kai |
|---|
No analytics yet
Send a link to your students to track their progress
6 Terms
1
New cards
Assumptions of Monopolistic Competition
no barriers to entry to exit, differentiated goods, large number of buyers and sellers
2
New cards
Differentiated Goods
quality, product appearance, product features
3
New cards
Long Run Equilibrium
firms make zero economic profit
4
New cards
Efficient Scale
the production quantity that minimizes ATC
5
New cards
Comparisons with Perfect Competition
firms produce at the efficient scale
6
New cards
Comparisons with Monopolistc Competition
there is excess capacity
Note 
Flashcards (21)